BullMarketRun.ca

The U.S. dollar has broken out of a downtrend recently and has now moved above its 50-day moving average for the first time in eight months…this, of course, helps explain gold’s recent drop, and suggests that gold may indeed drop further and perhaps even test the $1,000 level again in the near future before resuming its upward trend….the Venture Exchange, however, continues to hold up extremely well…the Venture Exchange has proven to be a very reliable leading indicator of precious metal and commodity prices, so one has to keep that in mind…we believe next week will be an important test of the Venture and we’ll have more on that over the weekend…Cliffs Natural Resources (CLF, NYSE) seems to have gained the upper hand against Noront Resources (NOT, TSX-V) in the battle for Freewest Resources (FWR, TSX-V)…Noront has had a disappointing week after momentum appeared to be in its favor at the end of last week…we still believe Freewest shareholders are better off joining with Noront, but investors’ time spans are very short and Freewest shareholders have no doubt not been too impressed with the performance of Noront’s stock this week…